Cigna Explores Selling Medicare Advantage Business, Biden Admin Proposes Changes to Billing Resolution Process

Cigna considers selling its Medicare Advantage business as the U.S. government tightens reimbursement for health insurers. The Biden administration proposes changes to the surprise medical billing resolution process to make it more efficient and improve early communication between insurers and providers. Medicare reforms in 2023 aim to improve accessibility and affordability for beneficiaries, with further reforms expected to contain prescription drug costs. Medicare beneficiaries will face increased premiums and other costs in 2024. Aetna received an estimated $25.5 million in Medicare Advantage overpayments for 2015 and 2016, according to an audit.